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DAILY FOREX REPORT BY EPIC RESEARCH- 16 JANUARY 2013

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DAILY FOREX REPORT BY EPIC RESEARCH- 16 JANUARY 2013 Powered By Docstoc
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                    DAILY FOREX REPORT

                     16TH JANUARY 2013




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                        HEADLINES
                        Short    dollar      on rate   cuts,   policy    reforms:
                        Westpac

                        Westpac Institutional Bank says it is short dollar and will
                        add to these positions on rallies back towards 55.50 levels.
                        Rate cut by the RBI on Jan. 29 will be positive for the
                        rupee as it will highlight a greater degree of confidence in
                        the inflation outlook and help drive a rebound in growth,
                        the bank says in a note. Westpac is more upbeat about the
                        rupee's prospects at the start of the year due to the
                        continuation of the government's reform agenda including
                        delaying of the tax avoidance rules which would encourage
                        strong capital flows, they say. Lead indicators suggest
 TRADING TIPS          improvements in Indian exporters, the bank added. "We
                        suspect the combination of these factors can deliver a
 SELL USD/INR          decent correction in dollar over the next few weeks," they
  BELOW 54.67           say
  FOR TGT
  54.52/54.37
  SL 54.87
                                     REFERENCE RATE
  PAST
  PERFORMANCE                        As on 15THJanuary 2013
 SELL USD/INR
                                 UNDERLYING                 RATE
  BELOW 54.62
                                    USDINR                54.5425
  FOR TGT
                                    EURINR                72.8525
  54.47/54.32
                                    GBPINR                87.6934
  SL 54.42
  TARGET ACHIEVED                   JPYINR                61.3000




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                               DAILY MARKET STATISTICS

PRODUCT     EXP DATE        OPEN        HIGH        LOW         CLOSE       LTP      CHG       PERCENTAGE
 NAME                                                                                            CHANGE

 Symbol     Series/Expiry       Unit             Open         High        Low         Close      Prev. Close
 CHANA      7/19/2012       4556        4573        4525         4560      4532      -28          -0.61

 EURINR     29-Jan-2013        1 EUR            72.9025      73.1275     72.7875     72.9750      72.9325
 CHILLI     7/19/2012       5060        5060        5018         5120      5018      -102         -1.99


  GUR       7/19/2012       1188        1188        1178        1183.5     1178      -5.5         -0.46
 EURINR     26-Feb-2013        1 EUR            73.1500      73.3875     73.0500     73.2350      73.2125

 JEERA      7/19/2012       14955      14960        14650      15052.5     14800    -252.5        -1.68
 GBPINR     29-Jan-2013        1 GBP            87.7600      88.0325     87.5875     87.7900      87.8875
 KAPAS      7/19/2012       1044        1053        1035         1049      1041       -8          -0.76


 GBPINR
 PEPPER      26-Feb-2013 42300 GBP 4255588.0600
            7/19/2012        1               42250 88.3475
                                                       42390             87.9275
                                                                           42435     88.1225
                                                                                      45          88.2225
                                                                                                  0.11


REF SOYA    7/19/2012       780.5       783.6       777.4       782.85     781.3     -1.55        -0.2
 JPYINR     29-Jan-2013       100 JPY           61.3150      61.7950     61.1700     61.6825      61.1925

SOY BEAN    7/19/2012       4309        4330        4265.5       4303      4315       12          0.28

 JPYINR     26-Feb-2013       100 JPY           61.5400      62.0375     61.4400     61.9375      61.4425
TURMERIC    7/19/2012       4600        4676        4518         4664      4540      -124         -2.66


 USDINR
 WHEAT       29-Jan-2013
            7/19/2012          1USD 1282 54.5025
                                              1251 54.7950
                            1251                       1246              54.4550
                                                                            1282     54.6975
                                                                                      36          54.6050
                                                                                                  2.89



 USDINR     26-Feb-2013        1 USD            54.8175      55.0425     54.7200     54.9425      54.8450



 USDINR     27-Mar-2013        1 USD            55.0800      55.2950     54.9900     55.2050      55.1225




      www.epicresearch.co                                                          +919752199966
                               DAILY USD/INR CHART




ANALYSIS
OPEN: 54.5975
HIGH: 54.7950
LOW: 54.4675
CLOSE: 54.6975

    USD/INR LOOKS DOWNWARDS
    TREND: BEARISH

    STRATEGY: SELL ON RISE




         www.epicresearch.co                         +919752199966
                              DAILY EUR/INR CHART




ANALYSIS
OPEN: 72.9025
HIGH: 73.1250
LOW: 72.7825
CLOSE: 72.9750

    EUR/INR LOOKS DOWNWARDS
    TREND: BEARISH
    STRATEGY: SELL ON RISE




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                              FOREX FORTHCOMING DATA
    TIME               CURRENCY                            DATA                    ACTUAL          FORECAST           PREVIOUS
 Tentative                 EUR                    German 10-y Bond                                                      1.40|1.5
                                                      Auction

  7:00pm                    USD                     Core CPI m/m                                       0.2%              0.1%


  8:30pm                    USD                NAHB Housing Market                                      48                  47
                                                     Index

  9:00pm                    USD                 Crude Oil Inventories                                                      1.3M

  9:30pm                    USD                 Crude Oil Inventories                                 -1.6M               -1.0M


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          www.epicresearch.co                                                                       +919752199966

				
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